Northrop Grumman Corporation
 (NOC)

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  • Nov. 17, 2015, 12:57 PM
    • Rising interest rates have historically been good news for Boeing (BA +1.1%) and other aerospace and defense companies, Canaccord analysts say, as strengthening commercial orders correspond with outperformance by both Boeing stock and the broader sector.
    • Commercial transport orders over the past three significant tightening cycles rose by an average of 7% and 140% in the 12- and 24-month time periods after rates started to increase, and total commercial backlog increased over the same periods by an average of 3% and 43%, the firm says.
    • BA stock has outperformed the broader market over the past two tightening cycles by an average of 19%-20% annually while rates are rising, Canaccord adds.
    • Also today: LMT +1.8%, RTN +1.6%, COL +1.3%, NOC -0.3%.
    | Nov. 17, 2015, 12:57 PM | 2 Comments
  • Nov. 16, 2015, 10:33 AM
    | Nov. 16, 2015, 10:33 AM | 3 Comments
  • Nov. 13, 2015, 11:40 AM
    • Northrop Grumman (NOC -0.1%) is optimistic about sales of its E-2D Advanced Hawkeye airborne early warning aircraft to countries in the Persian Gulf, Asia and North Africa in coming years despite the loss of an order from the UAE to Saab, company execs tell Reuters.
    • A sector director with NOC's international mission solutions business says his company remains in discussions with a number of other countries, declining to name them specifically but noting that France, Japan, Taiwan and Egypt operate the older model E-2C aircraft.
    • NOC says it does not view the contract loss to Saab as a setback since it has other strong business prospects in the Gulf region and around the world.
    | Nov. 13, 2015, 11:40 AM
  • Nov. 12, 2015, 12:58 PM
    • The U.S. Air Force has ordered Northrop Grumman (NOC -0.5%) to stop work on its recently awarded long-range strike bomber contract after Boeing ([BA]] -1.4%) and Lockheed Martin (LMT -0.8%) formally protested against the selection process, Reuters reports.
    • Analysts have said the bomber deal could be valued at up to $80B if the Air Force buys all 100 stealth bombers now planned.
    | Nov. 12, 2015, 12:58 PM | 13 Comments
  • Nov. 12, 2015, 12:21 PM
    • Raytheon (RTN -0.4%) is upgraded to Buy from Hold with a $135 stock price target at Argus, which expects management's focus on international and cybersecurity businesses to generate stronger growth over the next two years.
    • Argus says RTN's business mix appears favorable compared to most defense industry peers, and given rising geopolitical threats it likes the emphasis on advanced missile defense, electronic warfare and cybersecurity systems.
    • RTN also is generating strong cash flow and aggressively returning cash to shareholders through increased dividends and share buybacks, the firm says.
    • Argus also raises Northrop Grumman's (NOC -0.5%) price target to $205 from $195, citing a clean balance sheet and management's history of meeting and beating analyst expectations.
    | Nov. 12, 2015, 12:21 PM | 3 Comments
  • Nov. 10, 2015, 3:23 AM
    • U.S. Air Force Secretary Deborah James is defending the process used to select Northrop Grumman (NYSE:NOC) to build the next-generation Long Range Strike Bomber, stating it was "very deliberate" and included a number of independent reviews.
    • James said the Air Force stood by its decision, but would wait to see how the U.S. Government Accountability Office ruled on a formal protest filed by Boeing (NYSE:BA) and Lockheed Martin (NYSE:LMT). A ruling is due by mid-December.
    • Previously: Boeing protests bomber award (Nov. 06 2015)
    | Nov. 10, 2015, 3:23 AM | 4 Comments
  • Nov. 6, 2015, 8:49 AM
    • Boeing (NYSE:BA) discloses it will formally protest the Air Force's award of the Long Range Strike Bomber to Northrop Grumman (NYSE:NOC).
    • The company was debriefed on October 30 concerning why its proposal with team-mate Lockheed Martin (NYSE:LMT) had not been accepted, but an internal review concluded there was extensive procedural basis for challenging the award and found the process "fundamentally flawed."
    • Previously: Boeing set for hard decision on bomber-program protest (Nov. 04 2015)
    | Nov. 6, 2015, 8:49 AM | 39 Comments
  • Nov. 4, 2015, 8:49 PM
    • Boeing (NYSE:BA) may decide as soon as tomorrow whether it's protesting a contract win by Northrop Grumman (NYSE:NOC) to develop the Air Force's Long Range Strike Bomber.
    • The hard-fought contract is for a $55B program to build 100 planes. "We continue to evaluate our options," said Boeing's Todd Blecher, but the company and its partner Lockheed Martin (NYSE:LMT) are reluctant to proceed if the case looks weak so as not to annoy the Pentagon and delay the program.
    • And it would be an uphill battle with a heavily classified program. Legally, companies have 10 days after an agency debrief to file a protest with the GAO; Northrop was chosen on Oct. 27.
    | Nov. 4, 2015, 8:49 PM | 20 Comments
  • Oct. 28, 2015, 4:47 PM
    • Northrop Grumman (NYSE:NOC) has the capacity to bid on other major upcoming Pentagon contract awards even after securing its huge deal to build a fleet of new bombers, CEO Wes Bush said in today's earnings conference call.
    • "We have the resources in place [and] we are ready to get to work," Bush said on the deal to build as many as 100 long-range bombers but declined to comment further, citing its classified nature.
    • The CEO also said the company does not plan to follow some rivals and carve out its services business, as the recent restructuring aims at speeding product development and reducing costs rather than repositioning its portfolio.
    • Analysts estimate the bomber award could add $1B or more to NOC's annual revenue - which reached $24B last year - if it successfully navigates an expected protest from losing companies Boeing (NYSE:BA) and Lockheed Martin (NYSE:LMT).
    • Credit Suisse’s Robert Spingarn calculates ~5.4% upside for NOC, and that the win was a pleasant surprise for shareholders, as the Boeing-Lockheed team was the favorite.
    | Oct. 28, 2015, 4:47 PM
  • Oct. 28, 2015, 9:12 AM
    | Oct. 28, 2015, 9:12 AM
  • Oct. 28, 2015, 8:15 AM
    • Net income of $516M, or $2.75 per diluted share vs. $473M, or $2.26 per diluted share in the third quarter of 2014.
    • The results come just hours after Northrop (NYSE:NOC) won a massive Long Range Strike Bomber contract from the Pentagon.
    • During the quarter, the company repurchased 5.6M shares of its common stock for $944M.
    • Total backlog as of Sept. 30 was $35.9B compared with $38.2B a year ago.
    • The company raised its full-year earnings outlook to a range of $9.70-$9.80 per share from prior guidance of $9.55-$9.70 per share, and narrowed its revenue guidance to $23.6B-$23.8B.
    • Q3 results
    | Oct. 28, 2015, 8:15 AM
  • Oct. 28, 2015, 6:38 AM
    • Northrop Grumman (NYSE:NOC): Q3 EPS of $2.75 beats by $0.56.
    • Revenue of $5.98B (flat Y/Y) beats by $120M.
    | Oct. 28, 2015, 6:38 AM
  • Oct. 27, 2015, 5:30 PM
  • Oct. 27, 2015, 5:21 PM
    • Northrop Grumman (NYSE:NOC) is up 5.8% after hours as it's emerged the winner of the giant contract for the Pentagon's Long Range Strike Bomber program, Air Force Secretary Deborah Lee James confirmed.
    • The $55B program will build 100 planes to enter service in the 2020s and succeed an aging bomber fleet.
    • Northrop beat a team of Boeing (NYSE:BA) and Lockheed Martin (NYSE:LMT) to the huge award. The company -- builder of the veteran B-2 bomber -- was so eager that it ran a Super Bowl ad in some markets talking about its legacy.
    • Live stream
    | Oct. 27, 2015, 5:21 PM | 11 Comments
  • Oct. 26, 2015, 6:05 PM
    • A U.S. appeals court denies a lawsuit by Raytheon (NYSE:RTN) that sought to halt the U.S. Air Force's re-evaluation of bids submitted for a new $1B long-range radar by RTN, Northrop Grumman (NYSE:NOC) and Lockheed Martin (NYSE:LMT), Reuters reports.
    • RTN first won the contract in October a year ago, but the decision was protested by both losing bidders, prompting the Air Force to take a fresh look at the bids.
    • The judge ruled that the Air Force's decision to reopen the competition was justified since the agency had violated rules on equal communications with bidders about whether they could recover internal R&D spending linked to the bid.
    | Oct. 26, 2015, 6:05 PM
  • Oct. 23, 2015, 5:49 PM
    • With plans to retire Northrop Grumman's (NOC +0.2%) A-10 aircraft for close-air-support missions stirring up debate, the Air Force is designing tests to pit it against Lockheed Martin's (LMT +1.3%) F-35.
    • The tests were detailed at a House committee hearing this week, at which Rep. Martha McSally -- a former A-10 pilot herself -- raised concerns about F-35 attributes.
    • Previously, the Air Force's Chief of Staff Gen. Mark Welsh said such tests would be a "silly exercise."
    • The F-35 hasn't done well in other tests; the new tests will look at range, time to arrive on target and loiter time, among other factors.
    | Oct. 23, 2015, 5:49 PM | 14 Comments
Company Description
Northrop Grumman Corporation is a security company providing systems, products and solutions in unmanned systems, cyber security; command, control, communications and computers (C4) intelligence, surveillance, and reconnaissance.
Country: United States